@Aldaris19 Really? A 25 bp rise and you’d expect a major collapse? Not just
a slower pace of credit expansion? Not just a decline in the rate of asset
price appreciation? But instead, a “major collapse”? Really?

@numag1 People will still buy goods, and when we save, we will start to
invest it in businesses and that will restart the economy. More competition
means competitive pricing, and better for the economy because prices will
drop because of this. Doesn’t mean they will actually drop, still have to
measure it against inflation and other things. Some companies are selling
goods like you say and will go out of business. They will start new
businesses with new ideas. People will still spend money.

The US has already raised the retirement age to 70. This is how government
will remove social security. Keep raising the age requirement until nobody
lives long enough to collect it. If I have a cozy job in a nice office
raising the retirement age great news. If I have to work for a living like
most people raising the retirement age means 5 more years of hardship and
struggle. If I get paid by the hour where is my profit? If my labor is
taxed, how am I not a slave?

it would be good if Schiff elaborated on China’s rising interest rates on
commodities, commodity currencies, economic growth in China, shares in
China that his company sells!!!! talking for 10 minutes about gold and the
US dollar day after day is pointless!!

@numag1 . The entire reason we are dependent upon imports is that our
production capacity has shrunk tremendously, esp. when compared to our
increased spending. This reduction is due to our current burdensome tax and
regulatory structure, and the better opportunities overseas (in
comparison). Where I choose live/work is based on these things, why would a
company be any different? As for wages/labor, that would take up too many
characters for the comments section. Message me if your interested.

@marniespeaks I’m glad you know that we have enough of everything. Looking
around my pantry, I can’t say the same. Instead of raising my retirement
age, we could lower it to 31 and then my pantry would never empty. Are
there enough people between 16 and 31 to support me? Are there enough
people between 16 and 62-67 to support all the people who are retired now?
And who cares if we give away $200 trillion to wall street, it’s all fiat,
right?

@jgbloyd He didn’t really bash your weed. At best, he implied that smoking
grass is, for some people, a popular use of time instead of them doing the
kind of shit they don’t want to – but probably should be.

@marniespeaks You are advocating that we give up freedom in exchange for
promises of prosperity made by people who lie for a living. Even if your
ideas were taken up by people with honest intentions, the ideas are in
opposition to both the free market and human nature. They have no worth or
creative power, only the power to destroy. The reason gold prices are high
is because gold can’t be destroyed. It can be hidden, inherited and
exchanged for goods and services in retirement.

@jibbi4one I hope America has the guts to cut the public sector jobs like
the UK has. There’s no doubt that we will ultimately have to shrink
government. The only question is when. Will we cut the size of government?
or will we just continue on over the cliff, refusing to give up a single
government job? I’m not so sure which way we will go!

@uuutu5betube because that would mean that the people came to their senses
and correctly understood economics and politics and life around them and
made the correct choices…. all of which is inconceivable.

@numag1 If people save more there will be more capital investment and more
production. People will get jobs, and we will satisfy domestic demand by
producing more goods ourselves rather than relying on imports. In addition,
our exports will grow.

@FranzVS Interesting perspective. There would be plenty in the pension
funds if it wasn’t doled out to banks that took on too much risk. The
disicion to take from the public what belonged to the public (retirement
funds) was the catalyst for protest. Very interesting.

@FranzVS Hi FranzVs. I’m wondering who are the profile of the protesters in
france. Are they. 1. The taxpayers who will pay up so that the Civil
servants can retire early OR 2. Are they thE cival servants who think they
should retire early after their short life or hard work??? Har

Peter I got to ask, why do you not mention the obvious here? China has been
fueling a speculative investment boom in real estate for the past five
years now. In addition to racking up their money supply through fiscal
simulus. If we are to assume that Austrian theory has any credibility, this
rate hike should lead to a major collapse in the Chinese real estate
market. I can’t see why you don’t mention this in your video.